Guardiola knows about his position and through his coach career, he doesn't want to work for clubs with weak positions and not too good player resources. We can say he took the coach position in Barcelona when they weren't in a too good situation, but it was far than a crisis and it's the first club of Pep Guardiola. A next one is Bayern Munich what dominated Bundesliga for years and had many star players when Pep Guardiola joined them. A third club for him is Manchester City, and he joined them with many available star players too.
Now, he can sign a new contract with them, or can leave the club to take a rest for one or two seasons and take a new challenge, perhaps in another league. If Pep Guardiola views that his chance to succeed in Manchester City is small, he will leave with his known style.
Everything will depend on how City finish this season, if they can't defend their Premier League title and don't achieve anything significant in the Champions League, then perhaps the management will decide not to renew Guardiola's contract, although to be honest I don't believe in it myself and even if this season is unsuccessful, they will be able to forgive him for one season. Besides, it's hard to believe that City will allow themselves to have a disastrous season, they still have a lot of time to fix everything.
Pep Guardiola is the only coach who can break the record of the Premier League title in 4 consecutive seasons and Man City really hope to continue working with this coach, I think even though Man City can't win the title this season they will still employ Pep Guardiola and try to persuade Pep to stay there is no one better than Pep if you look at what he has done as a Man City manager. Even if Man City fails this season it is not entirely Pep's fault because of the injury situation experienced by Man City which caused the team's performance to decline.